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Wednesday, March 9, 2011

Pakistan agrees to IMF conditions

ISLAMABAD: Pakistan has assured International Monetary Funds (IMF) that it will impose a 15 per cent flood surcharge and one and half percent special excise duty from April 1 to get IMF aid package.

On third day of the talks between IMF and Pakistan's economic managers IMF demanded a written pledge for additional taxation including increase in electricity rates and complete withdrawal of subsidy on petroleum products, sources said.

According to sources, the government will impose 15 percent flood surcharge and 1 1/2 percent special excise duty.

Pakistan will also ensure hike in power rate by six per cent.

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